When it comes to managing your money, timing is everything—or is it? There’s a common misconception that financial advice is only for people preparing for retirement or those already earning a high income. The truth? Seeking financial advice, no matter where you are in life or your financial situation, can be life-changing. Whether you’re just starting out or already earning six figures, having a plan can set you on the path to a secure and prosperous future.
Here’s why it’s never too early—or too late—to work with a financial adviser.
Starting Early Sets a Strong Foundation
Are you in your 20s or 30s and think financial advice is for ‘older’ people? Think again. Starting early doesn’t just give you more time; it also gives you a solid financial foundation that can grow over the years.
Why the early bird wins:
- Establish good habits: Learning to save consistently, budget effectively, and spend wisely in your younger years creates behaviours that will benefit you for life. These habits make future goals—like homeownership or funding a wedding—far easier to achieve.
- Start investments with small amounts: Even with limited cash flow, financial advisers can help you understand investment basics, identify low-risk options, and show you how compounding works. Investing early can lead to significant growth, even with modest contributions.
- Education planning: For young families, it’s never too soon to create an education fund for your children. Early planning ensures you’re prepared for future expenses without straining your family’s resources later.
Navigating Life’s Milestones as a Young Family
Starting a family means financial priorities shift dramatically, and the decisions you make today can shape your family’s future. This is where seeking a financial adviser is invaluable.
Key areas where financial advice helps young families:
- Homeownership: Navigating the housing market can be overwhelming, especially for first-time buyers. A financial adviser can help you create a deposit strategy, explore loan options, and plan repayments sustainably.
- Education planning: Higher education programs and private schools are significant expenses for families. Professional advice ensures you’re saving enough for these milestones.
- Emergency funds: Families face unpredictable circumstances. Having a strategy for emergencies offers much-needed peace of mind.
Financial planning during this stage of life can set your family up for long-term success while reducing stress about day-to-day money management.
It’s Never Too Late to Get Advice
Think you’re behind because you didn’t start in your 20s? Or perhaps you’re approaching retirement and feel overwhelmed by the complexity ahead. Don’t worry. There’s no expiry date on starting to take control of your finances.
Why it’s never too late:
- Retirement readiness: Even in your 50s or 60s, financial advice can help you optimise your superannuation, restructure assets, and assess other investments to ensure you’ll have enough money for a comfortable retirement.
- Dealing with complex circumstances: Life events—like divorce, inheritance, or selling a business—often require tailored guidance. Financial advisers can simplify these decisions, reducing overwhelm and anxiety.
- Catch-up contributions: Even if you’ve fallen behind on savings, there are strategies to help increase your nest egg. A financial adviser can create a plan to take advantage of tax benefits and investment opportunities unique to late-stage savers.
Remember, it’s never too late to seek advice that simplifies your financial future.
Maximising Wealth for High-Income Earners
For high-income earners, financial advice isn’t about starting from scratch—it’s about refining and maximising wealth. While earning more money provides greater opportunities, it can also introduce complexities in taxes, investments, and estate planning.
How financial advice enhances wealth management:
- Optimising tax strategies: Advisers can guide you through salary packaging, deductions, and tax-effective investments to ensure you’re not paying more tax than necessary.
- Protecting wealth: With higher income comes more risk exposure. Advisers help identify insurance and legal structures to protect your wealth while planning for long-term opportunities.
- Smart diversification: Avoid common mistakes like putting all your eggs in one basket. Advisers can design a diversified portfolio tailored to your goals and risk tolerance.
For high-income individuals, professional advice is essential to safeguard wealth and make it work harder for you.
Beginner Investors Can Benefit, Too
Starting to invest can feel overwhelming for beginners—terminology, strategy, and risks can be hard to grasp. Luckily, it doesn’t have to be intimidating. Even if you don’t see yourself as a “numbers person,” financial planners are here to guide you.
Ways financial advisers help beginner investors:
- Understand your risk tolerance: Everyone’s comfort level with risk is different. Financial advisers help you identify yours to ensure your investment portfolio feels comfortable and tailored.
- Build a strong portfolio: Advisers help you pick the right mix of stocks, bonds, or alternative investments to reduce risks while still creating opportunities for growth.
- Stay focused on long-term gains: Investing is a marathon, not a sprint. Advisers can help you eliminate the temptation to chase trends and instead focus on consistent, reliable returns over time.
Even small investments today can lead to big rewards tomorrow.
Take Control of Your Financial Future
Ultimately, there’s no “perfect” time to start seeking financial advice. Whether you’re just dipping your toes into financial planning or navigating a multi-asset portfolio, professional guidance offers undeniable benefits.
Financial advisers offer more than just numbers—they provide insight, support, and strategies to help you tackle life’s biggest transitions with clarity and confidence.
Take the first step toward a more secure financial future today. It’s never too early—or too late—to take control. Want to learn more? Speak with a financial adviser who can guide you based on your unique situation and goals.
If you would like to improve your current investment strategies or are looking to start your investment journey, click here to organise a complimentary 20-minute phone call with an EPG Wealth adviser.